MiMedx Group Stock Surges 3% After First-quarter Revenue Beat

By Emma CourtMarketsMarketWatch Pulse

MiMedx Group Inc. shares surged 3% in premarket trade Thursday after the company's first-quarter revenue results beat the consensus. Revenue rose to $72.6 million from $53.4 million, above the FactSet consensus of $70.2 million. The first quarter is "typically the most challenging quarter in the year and is the most difficult quarter to generate meaningful growth over the preceding quarter," said MiMedx Group President and Chief Operating Officer Bill Taylor, for various reasons including health plans' deductibles restarting in January. "We feel we are well poised to deliver on a robust 2017." Three new products launched last year helped contribute to the first-quarter results, the company said. MiMedx Group is scheduled to report earnings on March 31. Shares have surged 12.9% over the last three months, compared with a 3.1% rise in the S&P 500 .

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